Hong Kong-listed chipmakers jump on Huawei chip breakthrough optimism

Hong Kong-listed chipmakers and AI stocks rallied sharply after Huawei unveiled a new chip architecture and “Tau Scaling Law,” spurring optimism that China can reduce reliance on U.S. tech. On reopening after a holiday, investors pushed several tech names sharply higher: Semiconductor Manufacturing International jumped over 10%, Hua Hong Semiconductor nearly 13%, ASMPT about 11% and Lenovo roughly 16%. The news — Huawei’s “LogicFolding” architecture, slated for new Kirin phone chips this year and later for Ascend AI processors — reinforced bullish sentiment that Beijing will accelerate efforts toward a domestic semiconductor ecosystem amid U.S. export controls, lifting Hong Kong tech stocks and supporting the broader Hong Kong market (Hong Kong 50).